Hotel apartment rates nearly double ahead of Expo 2020

Dubai's hotel sector is gearing up for Expo 2020 Dubai, the world's largest and most impactful event ever to take place in the Middle East, Africa and South Asia (MEASA) region, from 1st October, 2021, to 31st March, 2022, while recovery from the COVID-19 is gaining momentum globally and the UAE is getting ready to celebrate the Golden Jubilee of its formation.

Industry executives and analysts say that people with a long stay of more than six months are opting for hotel apartments. These apartments are also finding favour with residents looking for worry-free accommodation, as compared to tenancy contracts that could lock them in for up to a year.

Ayman Ashor, general manager, Al Bandar Rotana and Al Bandar Arjaan by Rotana, said, “Clients get fully-furnished apartments including furniture, kitchen, washing, dishwashers, cleaning facilities and, importantly, bigger space as well. The offer is attractive for those who are looking for a six-month stay or more. As a result, the occupancy level at hotel apartments has been seeing an uptick, despite the Covid-19 challenges, and reaching, at times, up to 95 per cent."

The demand for hotel rooms and apartments has grown exponentially ahead of Expo 2020, when millions of visitors from abroad will flock to Dubai from October 1, 2021, to March 31, 2022.

“Wait until Expo and the prices could jump up to Dh16,000 a month, if not more. Rates are going up because life is getting back to normal. Consumers should also understand that hoteliers have to pay utilities and other daily expenditures,” he said.

Ashor revealed that a fully-equipped hotel apartment used to cost Dh5,500 during the early days of the Covid-19 pandemic. This has since escalated to around Dh12,000, as life gradually returns to normal.